The Chartered Institute of Directors Nigeria (CIoD) began last year’s edition of its leadership boot camp for directors of programme in Barcelona, Spain.
The Institute’s president, Tijjani Borodo, said the theme ‘Directors’ Role in Driving Business Transformation and Succession Planning’, was apt, considering the inevitability of constant change and transformation in the contemporary business landscape.
Represented by the CIoD’s Director of Academy, Sunday Adenipekun, Borodo said a constant factor that organisations have grappled with over the years is operating in a business environment that is characterised by uncertainty and unpredictability.
He said this was more so over the last decade because of the amazing intensity of changing technology, socio-political, economic, climate and regulatory changes. According to him, from all indications, the ferocity of the changes would be unparalleled in the new decade, given the new paradigms of competition, increasing sophistication of stakeholders, disruptive innovations, and emerging business models.
He stressed that it implies that only firms that reinvent themselves through constant transformation might stand the chance of surviving the tide of change in the new decade.
Such firms, Borodo said, needed adept boards that would lead the needed transformation. “Of course, for any transformation to be sustainable, it must be matched with effective succession planning,” he said.
While he commended the participating directors, he encouraged them to plan their 2024 training calendar with an intent to participate in some of the new directors’ development programmes the institute has introduced on the heels of its chartered status.
